Great Lakes Higher Education Services usually also known as “Great Lakes” provides federal Student Loans services. Since 1967 Great lakes have been helping students & Parents to complete their Higher Education.
Great Lakes & its Affiliates work hard to match eligible borrowers with lenders who can provide the loans they need to cover the costs of college Tuition for Students.
Great Lakes offers standard payment Plans, where you pay a set dollar amount each month as well as Income-based repayment Plans, where your Monthly Payment differ according to your recent Income. There are various ways to pay including online, by phone, or through the Company’s Mobile Apps.
If you are not aware of Federal Student Loans and are not sure what is the best Repayment Strategy is best for you. then great lakes are the Online service for you.
Also, there is a Knowledge Center where you can find answers to your Common question regarding Student Loans, and their Repayment Planner can you help to determine the smartest payment Schedule for you. And if you have any problem You can Contact Great lakes from Monday to Friday and its expert will solve your problem.
Great lakes Primary service and its Important Function is to give you access to your Student Loan Account. As a guarantor of the Federal Student Loan, Great lakes has obligation to both you and the Government.
Great Lakes has partnered with a large no of Lenders, both private & public which provide low-cost education Loans to college-going Students.
Great Lakes Education Loan Service specializes in managing the Backend of the Loan process. They Act as the Direct Contact between Students and Lenders throughout the Life of a college Loan.
Great lakes help Student Borrowers with all aspects of their Education Loan, making payments, monitoring the outstanding balance, & tracking occurring interest.
Also, Great lakes help Students to take advantage of potential Tax benefits and Apply for Student Loan Consolidation programs & more.
About Great Lakes
The Great Lakes Organization or Firm has been ruling the Market for a Good time Now. The Company is accompanied by Good Loan History for Millions of Parents and Students. Great Lakes Company is able to offer Student Customers Access to a $ 244 billion business Volume through subsidies and Grants.
Mygreatlakes has more than 8 million customers all over the World. Also, the Company has nearly 75 billion in Loan guarantees for the federal Family Loan Program. To Date, the Company has invested around $ 260 million in various scholarship Programs.
Great Lakes Student Loan Services
Many students have taken out federal student loans recommended to them by their school’s financial aid office without understanding exactly what types of loans they’re using, or why those loans rather than others were chosen for them.
The Student Loans section gives a little introduction to the Direct loans that most students receive, explaining the differences between subsidized, unsubsidized, and PLUS loans.
There’s an explanation of when you must pay the interest on your loan and several paragraphs on changes in loan status that trigger required repayment.
In general, enrollment of at least half-time means repayment is not mandatory, although if your loan is unsubsidized choosing not to pay interest will add that interest to the principal balance of your loan. You can find more on the types of federal loans here.
Great Lakes Student Loan Reviews
Great lakes are the Loan Servicer Works with Students, Graduates, Parents, & lenders to Ensure Successful Student Loan Repayment.
Great lakes offer various options for you who want to Pay Back Your Student Loan. The Standard Repayment Plan Charges you a monthly payment over a 10 Year Period. But if it does not work for you then there are other options are available for you.
Income-driven repayment provides you to Pay Less when you have a low monthly Income and more when your Income is High. For those who forget Payment frequently and looking to save little, enrolling in automatic payments will result in a 0.25% Interest rate deduction and Save your money in Long Run.
|Price||Varies by loan amount, interest rate, etc.|
|Best For||Anyone looking to take out a student loan|
|Not For||People who don’t need a student loan|
|Loan Terms||10 – 30 years|
|Repayment Options||Standard, Income-Driven, Deference, Forbearance|
|Better Business Bureau Rating||A+|
|In Business Since||1967|
|Standout Features||Extensive educational resources
Discounts for auto-paying
Flexible payment options
MyGreatLakes Recognizes the Significance of College degrees for Achieving Success and assists Young people in Achieving their Dreams by offering Student Loans to Millions of Students in the United States of America. with the assistance of Mygreatlakes, Higher Education has been very easy for Students and Parents that are facing some financial difficulties.
MyGreatLakes.Org acts as the intermediary between Students and Education Loan Providers as the Single Point of Contact for Borrowers seeking all Details about their College Loans. www.MyGreatLakes.org is one of the best Portals for Students who wish to Clear their Due Loans and want to Achieve their Dreams. No Students need to Give up on their dreams just because of a Lack of financial resources.
The Great Lakes Student Loans Interest Rates
The interest rate on the federal student loan is given by the Federal Government and is serviced by private companies like Great Lakes.
Congress decides the interest rate on Federal student loans every year based on the Financial Market. The Great Lakes Student Loans Interest Rates vary depending on the type of loan.
The rates are not based on the credit score or the ability of the borrower to repay them. All federal student loans have got a fixed interest rate on them and they do not change throughout the tenure of the loan.
|Loan Type||Borrower Type||Interest Rate|
|Direct PLUS||Graduate, Parents||7.00%|
|Perkins Loans||Undergraduate, graduate||5.00%|
The amount of interest rate you will have to pay depends on the factor of whether your loan is subsidized or unsubsidized.
Great Lakes Student Loan Cost & Its Payment
The cost of a student loan differs depending on how much you borrow, your interest rate, repayment terms, and in some cases, your credit score. The only way to know how much it’s going to cost you is to explore multiple options before making any decisions.
If your loan has been assigned to Great Lakes, use its Repayment Planner tool to help you determine which option best fits your lifestyle. Don’t just look for the minimum monthly payment, though, unless that’s all you can afford.
Paying more than the minimum is going to help you pay off your loan faster, and it’ll lessen the amount of interest you’ll have to pay overall.
Look at how much you’ll pay out over the lifetime of the loan and choose the option that costs the least, while still keeping the monthly payments affordable.
Great Lakes Student Loan Login
You Can Start by creating mygreatlakes Account online for that you need to share your Social Security Number & Date of Birth so You can Retrieve your Loan Information. then you have to create your Username & Password in order to login to make Payments.
Great Lakes Student Loan Deferment
Great Lakes Student Loan Deferments are available for a variety of situations, including when you’re:
- Back in school at least half-time.
- Unemployed, or working less than 30 hours a week and looking for full-time work.
- Temporarily having difficulty making ends meet.
- Actively serving in the U.S. military during a war, military operation, or national emergency.
- Actively serving in the Peace Corps or AmeriCorps.
- In a graduate fellowship program or rehabilitation training.
To qualify for a deferment, you must meet certain requirements; however, once you meet the requirements, you can’t be turned down.
Great Lakes Student Loan Consolidation
Consolidation gives you the opportunity to choose one of the U.S. Department of Education’s consolidation servicers (of which, Great Lakes is one) to complete and service your Direct Consolidation loan.
The U.S. Department of Education made the landmark decision to allow you to choose your consolidation servicer (of which, Great Lakes is one) under the Direct Consolidation Loan program.
The Great Lakes Loans Form
Download Tax Form: A Tax Credit is the Reduction of the money of the Federal Taxes you owe to the Federal Government. Even though the Credits available to the user differ based on eligibility and the amount, they do one thing-reduce the amount so taxes that you have to pay.
For Student Loans Tax, Form 1040 is needed to be filled out by US Residents. You need to Download it from here – https://www.irs.gov/pub/irs-pdf/f1040.pdf
Great Lakes Mobile Apps
Now You Can Manage your loans with your Mobile Device. All of Your information is secure with Their Identity Confirmation Process and Robust Encryption Technology.
You Can Do the following Tasks with Great lakes Mobile Apps:
- Make or schedule student loan payments of any amount
- View account details like your balance, interest, lender, status, and payment history
- Receive payment reminders and confirmations
- Use an existing payment account or create and store a new one
- Allocate any excess payment amounts to a specific loan or loans in an account
- Send your proof of income documents for income-driven repayment plan requests
- You can sign up for Great Lakes account access in-app if you need to; no need to visit their website to get started managing your loans.
Great Lakes Student Loans Contact Information & Phone Number
Need to get in touch with Great Lakes about your student loans? Don’t fret. There are numerous ways to contact them.
Office hours: Monday through Friday, 7 a.m. to 9 p.m. CT
Phone Number: 800-236-4300
P.O. Box 7860
Madison, WI 53707-7860
Also, You can fill out the complaint form on their Official website – https://www.mygreatlakes.org/educate/contactUs/home.html
If you have Great Lakes student loans, make sure to leverage their resources to help you pay off debt. If at any time you are having trouble Making Payments, get in touch with them to discuss your options.